xl inc. has just issued new long-term debt which sold at face value and has a maturity of 3 years. if interest rates drop over the next year, what will be the impact on the market value of the debt at the end of the year?

Select one:

a. it will be unchanged.

b. it will be lower than face value.

c. there is not enough information to determine the outcome.

d. it will be higher than face value.